Stock market has positive developments - Photo: QUANG DINH
Vietnamese stocks rise sharply
The stock market opened the morning session of June 16 with widespread green, in which the oil and gas and energy groups attracted strong cash flow.
The tense military campaign between Israel and Iran continues to heat up, raising concerns about global oil prices.
That is why, right from the beginning of the session, a series of oil and gas stocks increased strongly. In which, PLX of Petrolimex , GAS of PV GAS, PVC of PetroVietnam Chemicals and Services Corporation, PVD of PetroVietnam Drilling and Services Corporation... all hit the ceiling.
PVS of Petroleum Technical Services Corporation also increased significantly by 5.75%, while BSR of Binh Son Refining and Petrochemical increased by 5.41%...
Similarly, the chemical industry recorded positive developments, with green spreading across many leading stocks: DGC (+5.72%), DCM (+3.37%), DPM (+2.11%), LAS (+4.61%)...
Equally excited, shipping companies’ stocks attracted significant cash flow amid Middle East tensions that raised concerns about rising logistics costs. Accordingly, HAH (+1.43%), VOS (+3.75%), VSC (+2.13%), GMD (+1.8%)…
Most groups recovered in the green after the correction session last weekend. In which, the securities and banking groups recorded increases of 1.4% and 2.5% respectively, with the consensus spreading across most stocks. This trend contributed significantly to the overall increase of the market today.
On the contrary, Vingroup stocks, after a long period of strong growth, are under significant profit-taking pressure in recent sessions. In addition to Vinpearl's VPL, which increased by 6.6%, the remaining three Vingroup stocks in today's session are all under slight correction pressure, such as VIC (-0.12%), VHM (-1.46%), and VRE (-0.2%).
At the end of the session, the entire market had 515 stocks increasing in price, counterbalancing more than 210 stocks decreasing in price. VN-Index increased by nearly 23 points, to 1,338 points, equivalent to an increase of 1.72%.
What makes oil stocks so popular?
Mr. Bui Van Huy - Director of Investment Research at FIDT - said that the recent prominence of the oil and gas group is largely an immediate reaction to oil price fluctuations, rather than reflecting a real growth cycle in terms of corporate profits. Therefore, the current "oil and gas wave" is more of a short-term opportunity than a sustainable trend.
Specifically, the Israel-Iran tensions over the past week have pushed Brent oil prices up to $74-78/barrel - the highest level in nearly three months. The market is starting to price in the potential supply risk if the Strait of Hormuz - through which 21 million barrels of oil are transported each day - is disrupted.
In an uncertain environment with a lack of clear trends like the current one, oil and gas stocks are often chosen as a defensive channel, Mr. Huy explained.
However, to form a real "industry wave", Mr. Huy said that the market needs to witness the maintenance of high oil prices for a long enough period of time, accompanied by a clear improvement in business results - especially in areas such as oil and gas exploitation, transportation and infrastructure.
More importantly, cash flow needs to spread widely, instead of focusing on just a few highly speculative stocks.
In fact, in recent "oil and gas waves", oil prices increased but did not last long enough to create a breakthrough in business results.
Besides, most oil and gas enterprises in Vietnam operate under long-term price contracts with PVN or the State, so profits are not completely sensitive to fluctuations in international oil prices.
Source: https://tuoitre.vn/stock-investment-when-living-vietnamese-stock-markets-unexpectedly-increases-20250616152605165.htm
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